Illumina Selloff Offers a Good Buying Opportunity

The gene-sequencing machine maker cuts its revenue forecast sending shares tumbling by more than 20%.

By

Johanna Bennett

April 19, 2016

Darkness descended fast on Illumina.

Illumina (ticker: ILMN) slashed its full-year sales forecast late Monday, and warned that first-quarter revenue would fall short of expectations. This occurred against the backdrop of a selloff in bioscience stocks and last month’s announcement that longtime CEO Jay Flatley would step down in July.